Latest news with #GoldmanSachsAlternatives
ME Construction
3 days ago
- Business
- ME Construction
Mace Group announces investment in Mace Consult
Financial Mace Group announces investment in Mace Consult By In addition to the investment, several Mace Group shareholders, including Executive Chair Mark Reynolds and Mace Group CEO Jason Millett, will retain a minority stake in Mace Consult Mace Group has announced a significant investment in Mace Consult, a program management consulting firm. This investment, facilitated by Goldman Sachs Alternatives through a carve-out from Mace Group, aims to support Mace Consult's goal of becoming independent program management consultant. Mace Consult plays a crucial role as a delivery partner for some of the complex infrastructure and built environment projects, including the Hudson Tunnel Project in New York, Qiddiya in Saudi Arabia, and the New Hospitals Programme in the UK, said a statement. In 2024, Mace Consult generated substantial revenues of US $926mn and employs over 5,200 people across four global hubs, Europe, the Americas, Asia Pacific, and the Middle East and Africa. In addition to the investment, several Mace Group shareholders, including Executive Chair Mark Reynolds and Mace Group CEO Jason Millett, will retain a minority stake in Mace Consult. They will actively collaborate with Goldman Sachs Alternatives as members of the newly formed Mace Consult Board, with Mark Reynolds being appointed as the Chair. Building on over a decade of consistent double-digit organic growth and a strategic expansion into delivering major programs across the Americas, Europe, Asia Pacific, and the Middle East and Africa, the new partnership will enable Mace Consult to further strengthen its presence in key growth markets. Mark Reynolds, Mace Group's Executive Chair said, 'This transaction is a key milestone in securing the long-term future of Mace Consult, enabling the next phase of growth for our global consultancy practice. The shareholders, the board and I are extremely proud of the progress we've made collectively to achieve this outcome. Since 1990, and accelerating since the success of the London 2012 Olympics, Mace Consult has transformed the industries it serves, delivering to exceptional standards and redefining the boundaries of ambition. We have established a foundation to enable the business to flourish for decades to come.' Jose Barreto, Partner within Private Equity at Goldman Sachs Alternatives added, 'We are delighted to invest in Mace Consult and accelerate its growth trajectory as an independent business both organically and through strategic acquisitions. Through the global Goldman Sachs network and value acceleration resources, we see the potential to support Mace in delivering critical client outcomes during this period of heightened uncertainty and transformation.' Davendra Dabasia, Mace Consult's CEO commented, 'I am excited to lead Mace Consult on this next stage in our journey, working in close partnership with Goldman Sachs Alternatives. Our teams around the world have delivered exceptional growth over the past few years, and our new partnership will enable us to build on that to become the world's leading delivery consultant. As a standalone business, we will be positioned to further support our global infrastructure and built environment clients by scaling up at pace in North America and enhancing our digital solution delivery for clients.' Alex Mass, Managing Director within Private Equity at Goldman Sachs Alternatives, added, 'The long-dated trends of climate change, technological disruption, demographic shifts and urbanisation represent one of the fundamental project delivery challenges in history, requiring innovative management approaches, as demonstrated by Mace Consult over the years. As an independent business, Mace Consult is distinctly positioned to support clients in unlocking the full potential of every project around the world – and we are proud to support the employees of Mace Consult in this journey.' Mace Group was advised by UBS (M&A) and Linklaters (Legal). Goldman Sachs Alternatives was advised by Lazard (M&A and Financing), Jefferies International Limited (M&A) and White & Case (Legal). The transaction is subject to regulatory approvals (amongst other conditions) and is expected to close in 2025.
Time of India
14-07-2025
- Business
- Time of India
UK's CityFibre secures $3 bln to invest in network, M&A
LONDON: British fibre broadband network CityFibre said on Monday it had agreed 2.26 billion pounds ($3.04 billion) of finance from its shareholders and existing lenders to fund network investment and acquire smaller rivals. Shareholders Infrastructure at Goldman Sachs Alternatives , Antin Infrastructure Partners, Mubadala Investment Company and Interogo Holding would provide 500 million pounds in new equity, it said, alongside a 960 million pound expansion of its existing debt facilities. It said it had also agreed a further 800 million pound loan facility to fund acquisitions as it drives consolidation. CityFibre, which operates Britain's third largest broadband network after BT and Virgin Media O2 , said the new financing would "supercharge" its next phase of growth.
Korea Herald
10-07-2025
- Business
- Korea Herald
Goldman Sachs buys Seoul's Mercure Hongdae Hotel
Goldman Sachs Alternatives has acquired the Mercure Ambassador Seoul Hongdae, a 270-room hotel and mixed-use retail property in one of Seoul's busiest youth and tourist hubs, the firm said Thursday. The asset, part of Accor's global Mercure brand, was purchased through a real estate fund managed by Goldman Sachs Alternatives. It is located in the heart of Hongdae, a vibrant neighborhood in Mapo-gu, northwestern Seoul, known for its dense retail presence and cultural appeal. The property's retail component is anchored by a major Korean retailer expanding its offline footprint. The space will serve as a flagship for the brand's private-label products, complementing its e-commerce platform. 'This investment reflects our continued conviction that Korea is a strategically important market for our real estate investing platform,' said Nikhil Reddy, head of Real Estate for Asia Pacific at Goldman Sachs Alternatives. 'The property's location and high foot traffic, resulting in strong flagship retail demand, presents a compelling opportunity to deliver long-term value for our investors.' The firm highlighted Hongdae as one of Seoul's most dynamic submarkets, citing its proximity to multiple universities, strong retail demand, and easy access — just 30 minutes from Gimpo Airport and a three-minute walk from a subway station. The deal builds on Goldman Sachs' earlier acquisition of the nearby Scarlet Building, a six-story retail asset that the firm repositioned into a local landmark. Goldman Sachs said both the hotel and retail components are well-positioned to benefit from Korea's rebound in inbound tourism and rising global interest in Korean culture. International arrivals reached 16.3 million in 2024, up 48 percent from the previous year and nearing pre-pandemic levels, according to the Korea Tourism Organization. Separate data showed Mapo-gu alone saw more than 8.8 million international visitors — over 2 million more than in 2023.
Business Wire
23-06-2025
- Business
- Business Wire
Conquest Planning Raises $80 Million Series B Led by Growth Equity at Goldman Sachs Alternatives to Bring Personalized, AI-Powered Financial Plans to More Families
WINNIPEG, Manitoba--(BUSINESS WIRE)-- Conquest Planning Inc., ('Conquest'), a technology platform modernizing financial planning with customized and convenient advice, today announced it has raised $80 million USD ($110 million CAD) in Series B funding led by Growth Equity at Goldman Sachs Alternatives. The round attracted additional new investors, including Canapi Ventures, a venture capital firm investing in early to growth-stage software and fintech companies, as well as BDC Capital, Citi Ventures, TIAA Ventures and USAA. Existing investors BNY and Portage also participated in the round, which brings Conquest's total funding to over $100 million USD. Conquest was established in 2018 with the foundational belief that financial planning should be accessible, yet bespoke, for retail investors and ultra-high-net-worth families alike. Its artificial intelligence (AI)-powered software enables financial advisors, banks, brokerages, wirehouses, insurance firms and pension providers to offer personalized advice at scale. Conquest will leverage this fresh capital to accelerate its U.S. expansion, while also funding the continued evolution of its AI-based Strategic Advice Manager (SAM). SAM's revolutionary AI planning engine performs thousands of complex calculations around every piece of information in an individual's financial plan, which allows advisors and their clients to quickly and accurately understand the impact of different scenarios on clients' goals and recommend the next best financial decision. Conquest will continue to invest in its technology to support more robust plan analysis, enable more efficient onboarding and plan creation and create tools and modules that lead to dynamic content creation. 'In periods of macro volatility, the need for a modern, comprehensive and flexible financial planning platform becomes even more pronounced,' said Jade Mandel, Managing Director at Growth Equity at Goldman Sachs Alternatives, who will join the company's board. 'We're thrilled to partner with Conquest on their Series B as they further expand into the US and continue to empower financial institutions to provide best-in-class financial planning at scale.' Built to empower all people—whether they are in the borrowing, accumulation, or decumulation phase of life—Conquest's technology enables advisors to deliver flexible, dynamic financial plans that adapt to life's changes and accounts for extended lifespans. With this funding, Conquest will further advance its efforts to democratize advice by accelerating and expanding planning capabilities for individuals and families who may not be ready for a financial advisor relationship, but are seeking guidance on financial decisions such as debt management, investment account selection and a first home purchase. Conquest's new offering, dubbed SAM Bytes, enables advisors to remain engaged with self-directed investors during these planning moments to foster a sustained relationship built on trust. 'The era of inefficient and inaccurate trial-and-error-based financial planning is over,' said Dr. Mark Evans, CEO of Conquest Planning. 'As investors are demanding greater personalization in all aspects of their financial lives, we've unlocked the power of automation and real-time intelligence to bring the advice industry into the modern age. Conquest makes it possible for investors at any stage of life to get the financial advice they deserve. We're grateful to our partners for embracing our commitment to making high-quality advice more accessible to a broader range of families.' Conquest has also deepened its capabilities for advisors serving generationally wealthy families by investing in its estate and legacy planning features. These modern solutions offer stronger support for both pre-mortem and post-mortem advice, helping advisors to identify planning gaps and opportunities while providing proactive recommendations aligned with each family's legacy priorities and overall financial plan. 'Wealth management is a core growth driver for our 70+ bank LPs, where financial planning serves as a foundational pillar of the client relationship,' said Neil Underwood, General Partner at Canapi Ventures. 'Conquest's experienced team has built a modern, configurable, and AI-powered platform that enables institutions and their advisors to deliver intelligent, personalized guidance across the full wealth spectrum. We're proud to partner with Conquest as they bring planning-led advice to the forefront of the financial services industry.' Now counting more than 60 percent of the Canadian financial advisor market as users, Conquest is rapidly gaining adoption in the U.S. and U.K. due to burgeoning market demand for advice across the wealth continuum. Currently serving more than 1,000 financial services organizations, including RBC, Manulife, BNY Pershing and Raymond James, Conquest continues to gain market share as it approaches 1.5 million plans created on its platform. 'We're excited to continue working with Conquest given that we have the same goal - to help advisors improve their efficiency and effectiveness in financial planning,' said Ainslie Simmonds, Executive Platform Owner, Wealth Service Platform for BNY. 'Through the power of AI, Conquest allows advisors to spend less time with the data and more time interacting with their clients and we're thrilled to continue to offer this capability to BNY's clients through the Wove platform.' For more information about Conquest's AI-powered and intuitive financial planning software solution, please visit Conquest Planning is a leading financial planning software company with a purpose-driven approach to delivering financial advice. The product-led company is built on the foundational belief that every single person deserves access to great financial advice. Conquest's user base, which spans Canada, the U.S. and the U.K., leverage its intuitively designed product, simple onboarding process, and data-driven artificial intelligence to accelerate the delivery of beautifully designed, hyper-personalized financial plans. Established in 2018, Conquest Planning was founded by a team of financial technology veterans whose track record of success spans over 30 years in the financial planning software space. For more information on Conquest, follow us on LinkedIn, X and YouTube, and to contact our team, please visit our website at If you are employed by a company that partners with Conquest and have questions about your access, please contact your corporate office for more details. About Growth Equity at Goldman Sachs Alternatives: Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs has approximately $3.2 trillion in assets under supervision globally as of March 31, 2025. Since 2003, Growth Equity at Goldman Sachs Alternatives has invested over $13 billion in companies led by visionary founders and CEOs. The team focuses on investments in growth stage and technology-driven companies spanning multiple industries, including enterprise technology, financial technology, consumer and healthcare.
Bloomberg
07-06-2025
- Business
- Bloomberg
Goldman Sachs Leads Simetrik Series B Extension to $85 Million
Simetrik, a financial and accounting services startup, raised $30 million in fresh funding led by a unit of Goldman Sachs Alternatives. The funding adds to a series B round that the company disclosed in February 2024. At that point it had already pulled in $55 million from investors led by the growth equity team at Goldman Sachs Asset Management's alternatives platform.
